Albemarle Corporation (NYSE:ALB) Announces Quarterly Dividend of $0.41

Key Points

• Albemarle declared a quarterly dividend of $0.41 per share, payable on October 1 to shareholders of record as of September 11. The dividend yields about 1.4%.
• The company has raised its dividend for 30 consecutive years, though its current payout ratio of 216% suggests earnings do not fully cover the dividend right now.
• Albemarle’s recent results were strong, with quarterly earnings of $2.95 per share topping estimates and revenue rising 32.7% year over year to $1.43 billion.

Albemarle Corporation (NYSE:ALB - Get Free Report) declared a quarterly dividend on Tuesday, July 21st. Stockholders of record on Friday, September 11th will be paid a dividend of 0.41 per share by the specialty chemicals company on Thursday, October 1st. This represents a c) dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, September 11th. This is a 1.2% increase from Albemarle's previous quarterly dividend of $0.41.

Albemarle has increased its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 30 consecutive years. Albemarle has a dividend payout ratio of 216.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Albemarle to earn $12.84 per share next year, which means the company should continue to be able to cover its $1.62 annual dividend with an expected future payout ratio of 12.6%.

Albemarle Trading Up 0.3%

ALB opened at $118.56 on Wednesday. The company has a current ratio of 2.07, a quick ratio of 1.21 and a debt-to-equity ratio of 0.23. The firm has a market cap of $13.98 billion, a price-to-earnings ratio of -34.77 and a beta of 1.34. Albemarle has a 12 month low of $64.95 and a 12 month high of $221.00. The stock has a fifty day moving average price of $152.87 and a 200-day moving average price of $167.96.

Albemarle (NYSE:ALB - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share for the quarter, beating analysts' consensus estimates of $1.24 by $1.71. Albemarle had a positive return on equity of 5.22% and a negative net margin of 5.00%.The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the company earned ($0.18) earnings per share. The firm's revenue for the quarter was up 32.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Albemarle will post 12.95 earnings per share for the current fiscal year.

About Albemarle

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company's bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world's foremost chemical producers.

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